After languishing in the state legislature for months, the revised casino compact between Massachusetts and the Mashpee Wampanoag tribe is poised to soon head to the federal government.

The state Senate approved the compact, which would define the terms of operation of a proposed tribal casino in Taunton, on a voice vote Thursday afternoon. The Senate action was to approve the agreement on engrossment. It will head back to the House, then the Senate, for an enactment vote.

“Our Project First Light destination resort casino will bring jobs and economic opportunity for Massachusetts, plus a guaranteed rate of return to the state,” he said in a statement. “Our project is on a brisk pace and we are looking forward to bringing jobs and economic opportunities to our tribe, the people of Taunton and the residents of southeastern Massachusetts.”

A lack of sovereign land remains the biggest obstacle facing the tribe’s plans to build a $500 million resort casino in East Taunton.

The compact, which would govern the terms of operation of the tribe’s planned casino, will soon head to the federal Department of the Interior, which will have 45 days to either approve or reject the agreement.

The Department of the Interior rejected a previous version of the compact last year, saying its terms were not in the tribe’s best interests.

The new compact details a revenue sharing agreement that would see the tribe make payments to the state in lieu of taxes based on the level of competition in the Massachusetts gambling market. If the tribal casino is the only casino in Massachusetts, the tribe would pay the state 21 percent of its gambling revenue. If another casino opens elsewhere in the state, the tribe would pay 17 percent. The amount would decrease by 2 percentage points if the state authorizes slot machines at Raynham Park.

The tribe would pay no revenue to the state if another casino opens in the southeastern region, which is comprised of Bristol and Plymouth counties, Cape Cod and the islands.

The compact is a requirement for opening a tribal casino under federal law. Questions persist about the tribe’s ability to meet another key requirement, possession of sovereign land.

KG Urban principal Barry Gosin, who hopes to build a commercial casino in New Bedford, blasted the compact.

“Our proposal for New Bedford would transform an environmentally-contaminated waterfront site into a revitalized tourist destination in a city and region that are in dire need of jobs and enhanced economic activity,” Gosin said in a statement. “But the Legislature and the Patrick Administration seem determined to eliminate commercial competition in the Southeast by passing a compact that will give the Commonwealth absolutely nothing — a zero percentage share of the revenue from a Mashpee casino that the law does not presently allow, and which would therefore not open for decades, if ever.”

Page 2 of 2 - KG has a pending federal lawsuit challenging the preference the process gives the tribe.

State Sen. Marc Pacheco, D-Taunton, said the compact offers the state protection. If the tribe were able to meet the federal land sovereignty requirements, it would be able to lawfully operate a Class II casino, similar to a slots parlor, without a compact and without paying anything to the state.

“A majority of members understand the way we crafted the legislation and took the tribal compact into consideration,” said Pacheco, a tribal casino supporter. “If the tribal compact is approved and the Wampanoags get land into trust, they’ll be able to move forward anyway.”

“With the adoption of a compact, if the land in trust goes through, it actually protects some $2.1 billion that could come to the state over a 20 year period,” Pacheco said, projected revenue estimates.

Gov. Deval Patrick and the tribe negotiated the revised compact with assistance from the Department of the interior. The agreement was signed in March but sat in the Legislature for months until the house passed it in October.

The tribe owns land in Mashpee and has a purchase option on its proposed casino site in East Taunton, but it lacks sovereign jurisdiction over the parcels. The tribe has an application pending with the Department of the Interior to have that land taken in trust to establish an initial reservation.

While the Mashpee say they are confident their land-in-trust application will be approved, many point to the 2009 Carcieri v. Salazar Supreme Court ruling, which essentially implies that tribes that were not under federal jurisdiction prior to the 1934 Indian Reorganization Act in ineligible to have land taken in trust.

The Mashpee, who weren’t federally recognized until 2007, say they have been under federal jurisdiction for centuries, even if the U.S. government didn’t acknowledge it at the time.

Due to the uncertainty, the Massachusetts Gaming Commission voted earlier this year to accept applications for a commercial casino in southeastern Massachusetts, where the tribe had previously been given a window of exclusivity. The commission, however, stopped short of guaranteeing it would award the commercial license. Commissioners said they would revisit the tribe’s status, review the commercial applications and ultimately make a decision based on the state’s best economic interests.